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Data breaches: An 80% risk for all global organizations in 2022

Organizational data theft is on the rise. So much so, that an astounding 80% of global organizations believe they will suffer a major cyber-attack in 2022. That’s a scary number by anyone’s standards. 86% of those same companies reported that they are likely to experience a data breach specifically – an event that could prove devastating not only for organizations but for their employees, customers and even, their partners. A new report by Trend Micro and the Ponemon Institute backed these fears up, showing that the greatest risk is in North America. * Source: Trend Micro and the Ponemon Institute report Trend Micro and the Ponemon Institute teamed up to investigate the level of cyber risk across organizations and create a Cyber Risk Index (CRI), a comprehensive measure of the gap between and organization’s current security posture and its likelihood of being attacked. A total of 3,677 respondents were surveyed across North America, and Europe. So, what’s going on? Why all the data breaches now?  Obviously, the pandemic accelerated the trend. With so many now working remotely, IT departments are struggling to adjust their networks to a brand new normal when it comes to striking a balance between seamless yet secure access. Regardless, data breaches can occur for a variety of reasons. Here’s some of the most typical: 6 Most Common Causes of Data Breach
  1. Weak and Stolen Credentials, a.k.a. Passwords
Often a weak or lost password is the culprit for easy exploitation by an overzealous opportunistic hacker. Stats show that 4 in 5 breaches classified as a “hack” are in part caused by weak or lost (stolen) passwords! The solution: Use complex passwords and never (ever) share passwords.
  1. Back Doors and easily hackable apps
Why break the door down if it’s already open? This is the mindset of this decade’s lazy hacker. Today’s hackers are infamous for exploiting poorly written software applications or flimsily secured network systems that leave the doors wide open for them to simply saunter into an organization’s most private data vault, grab whatever they find, and leave undetected. The Solution: Keep all software and networks fully secured and up to date with the latest available security measures.  
  1. Social Engineering
As a hacker, there’s no need to create your own access point to exploit, when you can simply persuade someone else to create it for you. Right? The solution: Don’t believe every strange email from every exotic, far away country with a name you can’t pronounce – saying you’ve inherited $10 million from your great Aunt Maude (who you have never heard of) and who’s been living in a mud hut, since 1987.
  1. Loose Permissions
Businesses that don’t keep a tight rein on who has access to what within their organization, are likely to have loose permissions, give the wrong permissions to the wrong people, and/or, leave out-of-date permissions lying around just waiting for some lucky hacker to exploit! The solution: Deploy a system that ensures that only the right people have the right permissions to the right data. And keep those systems updated – always.
  1. Internal Threats
So, Bob used to be a great employee/contractor. That was until you fired him or stopped working with him and clean forgot to remove his access capabilities. Now Bob has a bone to pick and access permission to boot. The problem? He’s trusted by your system. That means, he can walk right in and have a private party with your data, whenever he wants, for whatever purposes he sees fit. The solution: Update your access permissions regularly. Remove past employees and contractors and make it company policy to do so, religiously. In short, the recipe for success here would be to:
  1. Manage new attacks
  2. Implement security processes
  3. Evaluate existing security tools
Additionally, taking the current threat landscape into consideration and, based on the CRI findings, global businesses can still greatly minimize their risks by implementing security best practices. However, having said all of that, the number one best thing an organization can do today to prevent a cyber-attack and a data breach, in particular, is to implement a Zero Trust Network Access (ZTNA) system. When it comes to organizational security, the numbers really do talk for themselves: Gartner inquiries reflect that queries on the topic of ZTNA grew a massive 127% in just the first four months of 2021, compared with the same period in 2020. Additionally, the worldwide information security market, in general, is forecasted to reach an unprecedented $170.4 in 2022, for similar reasons. And, with the pandemic skyrocketing Work from Home (WFH) overnight and Forbes reporting that remote workers skyrocketed 69% from a measly 8% almost overnight – and over 97% of those workers expressing a preference NOT return to work full time … it seems that there’s around 86 data-breach reasons (and climbing) for organizations to do whatever it takes to get their network security in order, before the proverbial ‘risk hits the WAN’. To find out how Safe-T can help your organization protect itself from potential data breaches, contact sales@version-2.com.sg

About Version 2 Limited
Version 2 Limited is one of the most dynamic IT companies in Asia. The company develops and distributes IT products for Internet and IP-based networks, including communication systems, Internet software, security, network, and media products. Through an extensive network of channels, point of sales, resellers, and partnership companies, Version 2 Limited offers quality products and services which are highly acclaimed in the market. Its customers cover a wide spectrum which include Global 1000 enterprises, regional listed companies, public utilities, Government, a vast number of successful SMEs, and consumers in various Asian cities.

About Safe-T® Group Ltd.
Safe-T Group Ltd. (Nasdaq, TASE: SFET) is a provider of Zero Trust Access solutions which mitigate attacks on enterprises’ business-critical services and sensitive data, while ensuring uninterrupted business continuity. Safe-T’s cloud and on-premises solutions ensure that an organization’s access use cases, whether into the organization or from the organization out to the internet, are secured according to the “validate first, access later” philosophy of Zero Trust. This means that no one is trusted by default from inside or outside the network, and verification is required from everyone trying to gain access to resources on the network or in the cloud.

Safe-T’s wide range of access solutions reduce organizations’ attack surface and improve their ability to defend against modern cyberthreats. As an additional layer of security, our integrated business-grade global proxy solution cloud service enables smooth and efficient traffic flow, interruption-free service, unlimited concurrent connections, instant scaling and simple integration with our services.

With Safe-T’s patented reverse-access technology and proprietary routing technology, organizations of all size and type can secure their data, services and networks against internal and external threats.